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news.Hi-Tech Pharmaceuticals has entered into an agreement to acquire Advanced Pharmaceuticals and Nutritionals (APN), a Mexican OTC and dietary supplement company.
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The deal will improve Hi-Tech’s Dietary Supplements and OTC product offering as well as expand its distribution through APN’s established platform.
The transaction accelerates international growth strategy as well as expands market access across a larger global platform with critical mass in all key Latin American countries.
According to Hi-Tech, the deal will help the company to capture additional share of the $11-$15bn Latin American OTC market.
Hi-Tech chairman, president and CEO Jared Wheat said: "The combination of these two great companies accelerates Hi-Tech’s international growth strategy, substantially diversifies our business streams and establishes a durable leadership position in Mexico and the South American Nutritional and OTC marketplace.
"We believe this strategic transaction will enhance our industry-leading growth profile by expanding market opportunities.
"APN brings a leading OTC and Nutritional distribution portfolio, Latin America capabilities, and a highly experienced management team to support Hi-Tech’s continued growth."
APN, one of the major players within the Latin America OTC and Nutritional markets, distributes many leading cough & cold, pain relief, weight management, sports nutrition, nutraceuticals and gastrointestinal treatment brands.